I recently received this question from an Ask Tom Live: Tax Edition subscriber:
I have $171,000 in a traditional, self-directed, checkbook IRA. That is where my wealth is stuck. I know I’ll have to pay taxes since I didn’t pay any while in the 401k and now a Traditional IRA. Will I have enough to bring at least $3,600 a month of passive income, without having to ever work again?
Listen to my answer in the video.